Resale unit at Buona Lodge sold for nearly $1.3 mil profit

By
/ EdgeProp Singapore
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November 29, 2019 1:31 PM SGT
SINGAPORE (EDGEPROP) - The seller of a unit at Buona Lodge made the top gain of $1.298 million over the week of Nov 12 to 19. The 1,668 sq ft unit on the fourth floor was acquired for $640,000 ($384 psf) in May 2004, and sold for $1.938 million ($1,162 psf) on Nov 14. The seller made a 203% profit, or an annualised profit of 7% over 15.5 years.
The 1,668 sq ft unit on the fourth floor of Buona Lodge was bought for $640,000 ($384 psf) in May 2004, and sold for $1.938 million ($1,162 psf) on Nov 14 (Credit: Albert Chua/ The Edge Singapore)
The 1,668 sq ft unit on the fourth floor of Buona Lodge was bought for $640,000 ($384 psf) in May 2004, and sold for $1.938 million ($1,162 psf) on Nov 14 (Credit: Albert Chua/ The Edge Singapore)
Located on Zehnder Road in District 5, the freehold condo was completed in 1992. It comprises 29 units over four storeys, and is a 15-minute walk from Haw Par Villa MRT station on the Circle Line.
The second biggest gain made over the week – a 103% profit of $805,154 – was at Glendale Park, located along Hillview Avenue in District 23. The 1,249 sq ft unit on the sixth floor was purchased for $782,846 ($627 psf) in June 1999, and sold for $1.588 million ($1,272 psf) on Nov 13. This means that the seller made an annualised profit of 4% over 20.5 years.
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Developed by Hill Grove Realty, the freehold Glendale Park was completed in 2000. The condo is a four-minute walk from Hillview MRT station on the Downtown Line.
Meanwhile, a unit sold at Thomson 800 – on Thomson Road in prime District 11 – made the third most profitable transaction over the period, netting a 63% profit of $800,000 for the seller. The 1,399 sq ft unit on the 12th floor was bought in Nov 1999 for $1.28 million ($915 psf), and sold for $2.08 million ($1,486 psf) on Nov 13. The seller therefore made an annualised profit of 2% over 20 years.
Freehold Thomson 800, completed in 1999, was developed by Property Enterprises Development, a member of the CK Asset Holdings. The condo is an eight-minute walk from Caldecott MRT station on the Circle Line, which will become an interchange with the Thomson-East Coast Line in 2020.
On the flip side, the biggest loss registered over the week was from the resale of a 2,680 sq ft unit at Marina Bay Suites, in District 1. The 11th floor unit was sold for $4.68 million ($1,746 psf) on Nov 14, at a 35% loss of $2.497 million. The unit was purchased in May 2010 for $7.177 million ($2,678 psf). Over a holding period of 9.5 years, this translates into an annualised loss of 4%.
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The 11th floor unit at Marina Bay Suites sustained a 35% loss of $2.497 million after it was sold for $4.68 million ($1,746 psf) on Nov 14 (Credit: Samuel Isaac Chua/ The Edge Singapore)
The 11th floor unit at Marina Bay Suites sustained a 35% loss of $2.497 million after it was sold for $4.68 million ($1,746 psf) on Nov 14 (Credit: Samuel Isaac Chua/ The Edge Singapore)
Located along 3 Central Boulevard, Marina Bay Suites was completed in 2013, and comprises 221 units in a 65-storey block. The development is a two-minute walk from Downtown MRT Station on the Downtown Line.
For price trends, recent transactions, other project info, check out these projects' research page: Buona Lodge, Glendale Park, Thomson 800, Marina Bay Suites
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